Saab and Grintek in new business partnership

Mon, Jun 18, 2001 12:21 CET

Saab and Grintek in new business partnership
South African electronics and communications group, Grintek, and
Sweden´s Saab, have teamed up to compete on world markets in the
hi-tech communications and data network defence sectors.
The new partnership, which will immediately result in combined turnover
growing from US$25-million to US$40-million (approximately R200-million
to R320-million), is the direct result of relationsships formed around
South Africa´s strategic defence procurement package.
Saab, in collaboration with BAE SYSTEMS, will supply 28 Gripen multi-
role fighters to the
SA Air Force, replacing 120 ageing Mirage and Cheetah fighters.
The new Saab-Grintek partnership will secure 250 highly-skilled jobs in
the short-term.
As the company enters new markets with the help of Saab´s worldwide
network, this number
is expected to grow.
It has already successfully competed for a number of contracts with
European helicopter manufacturers and is supplying a range of
communications and other equipment for the
use in both the Gripen and BAE SYSTEMS Hawk Lead-in Fighter Trainer.
Saab President & CEO, Bengt Halse, said his company had been "very
impressed by Grintek´s modern product portfolio. We are certain that
together we can develop cutting-edge products and successfully compete
internationally."
Welcoming the new technology links and business prospects offered by the
partnership,
Grintek chairman, Zoli Kunene, said "this is an important step in
integrating South Africa´s
best technological skills and capabilities into the global industry. It
is a further indication of
how the strategic defence procurement programme can secure and expand
the role of South Africa´s most modern industries internationally."
Grintek Ltd is a contractor and supplier of electronics related products
and services to the telecommunications, defense, mining, avionics, air
traffic management, security and power utilities markets in South Africa
and selected export markets. The group is listed on the Johannesburg
Stock Exchange and has a market capitalization of around R600 million.
Grintek employs some 1300 people, a large percentage of whom are
engineers and technicians.
Saab is one of the world's leading high-technology companies, with its
main operations focusing on defence, aviation and space. The group
covers a broad spectrum of competence and capability in systems
integration. Saab is listed on the Stockholm Stock Exchange and has a
market capitalization of around one billion US Dollars.
For further information, please contact:
Björn Erman, Executive Vice President, Saab Systems & Electronics
phone: +46 8 75 70485
Sybrand Grobbelaar, Managing Director, Grintek Ltd
phone: +27 12 672 8300
www.saab.se
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